business rebranding

4 Reasons Why a Business Owner Should Consider Rebranding

In today’s modern day marketplace, branding is everything.  But what is branding, and what qualifies as good branding or bad branding?  Here is a great definition of branding:

  • “The process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.”

Branding is important because of how much competition there is in the marketplace today, and because of how easy it is to fall prey to not having a strong enough of an image.  Branding is all about your image or lack thereof.  With the competition that is being experienced today, a good image is everything and will be the make or break point of a business when all of the cards are one the table.

You may think your product or service is unique, but if you look closely (and I do mean look more closely than a five minute Google search) you will find that you are by no means at all the only person offering whatever product or service that you specialize in.  Because this is now very much so the case, you need to make a point to really study your client base and your selling demographic and make a decision as to how you are going to best sell to them.  If you can do this, then you can get your products in front of people more easily, and your brand will be more significant to them.

Tips for Better Branding

Here are some reasons why you might want to take another look at how you are branding yourself, your business, your product, or your service:

  1. Your brand doesn’t stand out from the crowd of other brands.  You want your brand to be the bee’s knees.  It needs to pop, and it needs to be especially impressive and interesting.  Your brand must be something that will catch the eye and that potential customers will be drawn towards.  In this way, your brand will be absolutely top notch if it does this.  If not, you might want to consider rebranding.
  2. Your company has changed.  If you’ve experienced a merger or an acquisition, then it’s time for new branding.  You want your brand to totally reflect your company’s image, so if your company is now something different from what you started with, then it’s time for some new branding.
  3. You’re not attracting phenomenal new hires.  This is an interesting one.  One of the best ways to tell how your brand is doing is not from the customers, but instead from the people you have coming to you asking for a job.  This is huge.  Potential new hires know to look for a powerful brand to work for.  After all, they want to have a great career.  So if your business is no longer attracting top talent, then it may be time to rebrand.  There’s nothing wrong with accepting people from career assistance programs, but it’s never a bad time to rebrand!
  4. You are at all embarrassed to hand out your business card.  If you feel this way about a business card, what does that say about your feelings about your brand?  Strengthen up your brand and make new business cards that you can and should be proud of.

Branding is everything, and the process of branding can even be a decision making skill, at least when it comes to getting known and out there in the marketplace.  If your business hasn’t had a facelift in its branding, then now might be the time to rebrand your business and give it a new look.

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